Car Finance Quote | Auto Financing Scams
Auto Refinance | Window Etching Is Very Common Scam
Car dealers are often portrayed as predators just waiting for an unsuspecting customer to come along.
This is because many people believe that they are always on the prowl for unsuspecting buyers that are not very knowledgeable about cars. This can be unfair because we can argue that there are car dealers out there who would not cheat just to get an extra profit.
How Do You Tell The Difference?
To avoid becoming a victim of sneaky car dealers, look at the following auto financing scams.
Yoyo Scam
You will be allowed by the dealer to bring the car home as soon as possible. The dealer will take care of the financing, a few days later he will contact you again and tell you that there was a problem with your financing plan. He will tell you to set up a new financing scheme through him which, of course, will be at a higher cost and this will also entail a very high profit on the dealer's part.
Be wary of this trick and avoid it at all costs if you detect it. If you have a bad credit standing, don't have your financing done by the dealer and make arrangements for your own financing. If you ever do avail of the dealer's financing, you should never drive the car back to your home immediately. Wait for at least 24 hours just to make sure that the processing of your financing scheme has been completed already. By allowing 1 whole day to pass by, you are assured that the dealer cannot use this scam on you.
Window Etching Trick
Window etching is a very common scam. What the dealer will do is to offer to etch the VIN number of your car onto the window of the car for a price. Basically, the price ranges from as low as $300 to as high as $1,000.
Some buyers think that they did a good job by being able to talk down the price to a few hundred dollars, but unfortunately for them, a few hundred dollars is still a good amount of money. The best way to avoid this kind of scam is for you to buy an etching kit that you can do on your own. This is available in most auto shops and costs around $20. See how much they profit from you!
Preparation Fees
For preparing your car, the dealer will often add an additional preparation fee to your bill. Just to conduct a test drive, replace fuses, or take the car's plastic cover off will have your bill increasing by at least $500!
If you visit other shops, you can get the information that these add on costs are already included in the MSRP as set by the manufacturer. Some dealers automatically add it to the buyer's order to make it look mandatory. To take care of this scam, you can ask the dealer to classify it as credit (it should be identical to the amount of the preparation fee) on the following line. If the dealer does not agree to this, you can just simply walk away from the dealership.
Market Adjustment
The dealer will convince you that the vehicle you want is selling like hot cakes and very popular. In order to sell you the vehicle, they will do some "market adjustments" amounting to a few thousand dollars. This is usually indicated by a tag near the MSRP tag set by the manufacturer. Even if the car you want is very popular and is very much in demand, if it is in stock you should not be tempted because getting a "popular" car is not worth it if you have to pay a few thousand dollars more. You should never pay more than the MSRP set by the manufacturers. If you do, then you are allowing others to take advantage of you.
Warranty Extension
Although this type of scam is old already, it is still being used and there are many who fall for this trick. What happens in this kind of scam is that when you make a loan for the car, the dealer will tell you that you are required to purchase an extended warranty because it is one of the conditions of the bank.
There is a simple way of avoiding this scam. Ask the dealer to specify clearly in writing that the extended warranty is required for the loan to be approved. The dealer will most probably find a way to have it excluded. If he persists in including the extended warranty, do not do business with this guy and go to other dealerships.
These are some of the most common auto financing scams that are utilized by some car dealers. Always keep these in mind if you are going to buy a car. If you or a friend were treated fairly by a dealer in the past, consider using the same dealership again. It's a good indication that they do care about their customers and aren't just looking for a "fast buck."
Think very carefully and do not buy on impulse. Good luck to you and go get that car!
Auto Purchase Auto Service Contracts 101 : The Need-to-Know Facts Auto Loan Bad Credit Used Car Loan : When Bad is not Really Bad at All Used Car Purchase Best Buy Used Car Tips : When it pays to be Meticulous Car For Sale Best Condition Check-Up of a Used Car : When Old Gets Better Auto Car Purchase Buying Used Car Tips Cheap Car Purchase Used Cars at Cheap Prices Used Auto Part Great Value Buying Used Car Parts Used Car Dealer Buying a Used Car from a Dealer Used Car Finance Getting Huge Savings on a Used Car Used Car Dealership Tips on Looking For the Best Used Car Dealer Sell Used Car Six Steps on How to Make the Most of Your Used Car Listings Car Quote The Blue Book of Used Cars Used Auto Car Purchase Are You Thinking Of Buying A Used Car?" Used Auto Purchase Buying a Used Car? Auto Purchase Pros and Cons of Buying Used Cars Used Car Sale Pros and Cons of Used Car Classifieds Car Dealer Guides For Perfect Car Dealerships Car Donation Donating Used Cars For A Cause Used Auto Car Purchase Buying Tips For Used Cars Car Accident Avoid Rip Off Through Used Car History Check Car Lemon Law The Used Car Lemon Law: The Used Car Buyer's Best Friend Car Finance A Guide to Comparing Used Car Loan Rates Auto Car Loan Get a Used Car Loan to Get Your Dream Car Used Car Purchase Online 7 Guidelines for Used Car Prices Used Auto Car Dealer Used Car Review Used Auto Car For Sale Check that Used Car Car Quote Online Tips for Searching Used Cars Online Car Online Find the Right Online Used Car Site for You Used Car For Sale Online How to Estimate a Used Car's Value Car Finance Loan The Used And The New Cars Are Beautiful Used Car Warranty Tips On Buying Warranty For Used Cars Used Auto Purchase Online 5 Practical Ways to Check a Used Car Auto Purchase Online Things to Avoid When Buying Used Cars Used Car Auto Purchase When Buying Used Car from Its Owner, Beware of the Owner Bearing Offers! Buy A Car When Buying Used Car is Not a Good Idea Car Finance Quote Auto Financing Scams Used Car Dealer Dealership Scams Out There Used Auto Car Dealership Where to Get Great Used Cars Used Car Accident Do Not Buy Flood Damaged Cars Auto Purchase Reasons for Buying a Car Thrifty Car Take The Extra Mile : Fuel Efficiency Tips Buy A Car Guidelines In Buying Cars Online Auto Loan Quote Buying a Car? Tips about Financing Auto Insurance Quote Read The Warranty, It Will Save Some Money eBay Car Online Car Auctions 101 Purchase Used Car Key-Pointers When Buying a Second Hand Car Auto Car Purchase Online Are You Thinking Of Getting Used Car? Test Driving Tips Auto Warranty Car Service Contracts : Full Service Or Foolish Service? Auto Warranty 5 Things You Should Know Before You Sign a Contract Car Comparison The Best Places To Compare And Check Prices Of Cars Online
Job Listing Searching For An Accounting Job Personal Goal Planning Setting Success To Have Success, You Need To Learn From Your Past Online Auction Site Benefits of Buying on eBay Relationship Advice 101 Advice To Build Strong, Happy, Lasting Relationships Affiliate Marketing 5 Qualities For Affiliate Marketing Make Money Online Tips to Put More Cash Into Your Pocket Weight Loss Program Colon Cleanses to Lose Weight : Do They Really Work? Internet Marketing Affiliate Marketing Is Derivative Of Internet Marketing Dog Adoption Adopting A Dog - Puppy Or Adult? Golf Game Being the Best Golf Player You Can Be Car Auction Making Money With Online Auctions Business Marketing Are You Already Marketing On The Internet? Apple iPod Nano How to Get The Most Out of Your iPod Auto Purchase Auto Service Contracts 101 : The Need-to-Know Facts Penny Stock Trading How to Make Big Bucks With Penny Stocks Adult Dating Online Establishing Online Dating Relationships: Safety First Small Business How To Start A Mystery Shopping Business Apple iPod Advantages And Disadvantages Of The iPod Video Shopping Center Common Problems with Online Shopping Interior Design How To Decorate The Apartment On A Budget
Copyright 2009 ArticleSearchOnline.com, All rights reserved.
